I just saw that the pledge is now reduced to 82.5k. I am willing to increase my pledge to 7.5k (it is 5k now). If we reach the 90k again, can it be completed within 4 months? Tks.
Appreciate that. However, what's more concerning than the amount, is the number of people that are interested: 15.
My interest still stands, solid pledge.
Hello Marco,
how many people are needed?
I'm possibly interested, but I'm wondering about trading with IB with linked accounts. I imagine there will be the same problem as with the European markets? Or will this be resolved with the other sponsored project?
THANKS.
I am also curious about how many people would be sufficient for this project. I am looking to diversify, and am currently living in Asia, and thus am really looking forward to having this data!
We learned some lessons from European stocks... they are not as favourable as they initially seemed. Below you can see that investable universe (for max 500k AUM) is no more than 2,000 stocks. I removed countries with tax transactions (from 0.1% to 1%).
I would be really interested in getting answer to these questions:
- What is average earnings processing time grouped by small/mid/large caps.
- What is the size of investable universe.
- What are other costs associated with trading Asian stocks (e.g., Hong Kong stamp duty).
Hi @pitmaster
Do you have some sort of overview of the impact of taxes when investing in stocks in European countries?
If someone would ignore this information, what tax risks would he suffer?
The actual amount you'll pay per transaction are, I believe, 0.27% in Belgium, 0.15% in Switzerland, 0.1% in Spain, 0.3% in France, 0.25% in Britain, 0.5% in Ireland, and 0.2% in Italy. I'm really not sure about Greece. Pitmaster might have different numbers. These take into account that in some countries you'll pay the tax when you purchase shares and no tax when you sell them, while in others there's tax paid either way. So, for example, you'll pay 0.5% tax when you purchase shares in a British company and 0% when you sell, so that's why I put 0.25% as the tax in Britain.
In addition, if you're a US citizen investing in an IRA you do not get refunded for any foreign taxes charged on dividends (though I think there's an exception for Canadian taxes). So investing in dividend-paying companies incurs a taxation cost that you won't see from any other stock investment.
Lastly, there's not a really good reason to avoid stocks that are priced under, say, 5 Swedish Krona, which is what the "Price > 0.5" rule does. Most brokers charge commissions for European stocks as a percentage of the price rather than per share, so there's not a really good reason to include a "Price > X" rule for European stocks. The whole concept of penny stocks doesn't really have a European equivalent, as far as I've been able to ascertain.
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I will be signing up for Asian stocks! I'm sure many others when it's added to the pricing page.
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I will sign up for Asian Stocks. I consider it the crucial for future returns. If we focus only on a hot market (US) and a market with considerable question marks regarding its future (Europe), we may under-perform our potential. If adding the Asian stocks is a daunting task, I would do it in steps. Start with the biggest market first: Japan. It is a great market to explore strategies. The listed companies are shifting from being very risk-averse (and full of cash) to more shareholder friendly. At least that is what they need to do in order to stay listed.
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I'm a recent subscriber to Portfolio123 and wanted to add my support for expanding access to APAC equities. Access to this data would be incredibly valuable for both research and investment purposes, and I can't see any reason not to include it.
It's been a number of months since the last update on this project. Are there any developments or a timeline for when APAC data access might be available?
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My comment would be that until you have APAC data you won't really know how many extra users you will get.
I would guess that we will get significant alpha in Australia in particular as I doubt there are many retail investors using factor investing. Stockopedia.com is available here but it is very inferior to what P123 could offer. Liquidity though is thin compared to the US and there are only about 500 stocks worth adding to a Universe.
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15 is the bare minumum -- that's just who has pledged so far.
It sounds like there is broad interest in Asian and emerging markets, both in terms in actual pledges and a groundswell of interest from users chiming in. I would not underestimate interest in this at all. As @plan_trader points out, there's not a lot of tools that cover these regions, so this would be a real differentiator for portfolio123, a way for it to attract new investors from around the world, and a great opportunity for all of its users to expand their breadth of trading opportunities.
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With extra resources I agree, even if it takes years to recoup investment. Has to be weighted against other projects that have better ROI. We determined these projects have a better ROI in our present situation:
- Enterprise tools for collaboration
- Feature engineering tools for AI
- Universe a benchmark
- Broker connectivity
- Risk Model (hedge idio, factor, industry risk)
We are however trying to grow the team. With additional developers, and more pledges, it's a different story. The project would certainly kick off with a sizeable pledge bump.
PS. I'm not counting Yuval's $25K pledge since he's doing lots of things for us.
I just made a pledge. I'm a big fan of Japanese and Australian stocks.
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Thanks. It's $65K pledged not counting Yuval
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Hello all!
I have increased my pledge from 5000 to 7500 (mentioned in an earlier message). If all of us could go an extra mile, we may reach the 90k (not counting Yuval). In the end the money comes back to us (see special terms above).
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We could incentivize pledges to include a 20% discount when applied. Seeing around 10 more pledges, and substantially exceeding the $90K goal surely would be motivating.
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Tks Marco! Guys, let’s make it happen!
Increased mine to 5k.
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